Reaffirming its status as Sri Lanka’s most awarded Alternate Financial services brand, LOLC Al-Falaah won multiple awards at the 9th Sri Lanka Islamic Banking & Finance Industry (SLIBFI) awards which was held virtually for the first time.
LOLC Al-Falaah won the ‘Gold’ award for ‘Leasing Company of the year’ with a ‘Silver’ award for ‘Window of the year’ and a ‘Bronze’ award for ‘Entity of the year’ for the financial year 2019/20. Furthermore, the company’s ‘Mudharabah super saver’ account introduced earlier in the year won a ‘Merit’ award for the category of ‘Product of the year for 2019/20’. Another key accolade under the category ‘Rising Islamic Finance Personality of the year for financial year 2019/20 was awarded to LOLC Al-Falaah’s In-house Scholar Advisor, Ash-Shaikh Ubaidullah Iqbal.
Powered by Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, Doc990 Sri Lanka’s pioneering digital health solutions service provider is safe, convenient, and currently has over 140 hospitals in its portfolio. In order to serve its users better, Doc990 is expanding its service offerings across Kandy by integrating Seetha channelling services and pharmacies.
Seetha Holdings Pvt Ltd is a leading brand that has diversified into pharmaceuticals and doctor channelling services in the central province of Sri Lanka. In partnership with Doc990, Seetha Holdings has strengthened their hospital network in Kandy by expanding their pharmacy network through the Seetha Channelling Centre.
By Hiran H.Senewiratne
In line with Hemas’ portfolio strategy of focusing on its core sectors – consumer, healthcare and mobility – Hemas Holdings PLC (HHL) divested itself of its shareholding in Serendib Hotel PLC to Eden Hotel Lanka PLC, a subsidiary of LOLC Holdings PLC, for a total consideration of Rs. 791.7 million, CSE sources said.
Serendib Hotels PLC is the majority shareholder of Dolphin Hotels, Hotel Sigiriya, Serendib Leisure Management Ltd, Frontier Capital Lanka (Pvt) Ltd and Sanctuary Resorts Lanka (Pvt) Ltd. HHL will continue to hold a few leisure sector assets, which includes its investment in Anantara Peacehaven Tangalle Resort.
External sector performance – October 2020
In October 2020, Sri Lanka’s external sector exhibited its resilience with the successful repayment of the matured International Sovereign Bond (ISB) of US dollars 1.0 billion. During the month, external sector performance was supported by the continued improvement in the trade deficit, increase in workers’ remittances and the resultant stability in the domestic foreign exchange market. While imports continued to be restrained under low global oil prices and import restrictions imposed by the government, exports dropped in October 2020 due to the disruptions to local production and support services following the resurgence of COVID-19 cases since early October and weak demand from foreign buyers.
Given the shortage of brand new vehicles, the focus is now on registered vehicles. To cater to this requirement Riyasakwala, the registered vehicle business of David Pieris Group has established itself as the right place to buy, sell or exchange registered vehicles. Riyasakwala is able to cater to a diverse range of transportation needs, whether it be motorcycles, three wheelers or other vehicles and also to all brands of vehicles.
With its latest initiative of providing the best transportation solutions for the masses, Riyasakwala recently introduced DPMC certified three-wheelers. These three-wheelers have been subjected to strict inspection and valuation by David Pieris Motor Company experts and their sign off is something to be valued as they have been sole distributors in Sri Lanka for Bajaj products for over three decades.